The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-12-25
The Building Associations.

A good many societies have money on hand
that they could dispose of by making outside loans,
but as the demand for money within the society
promises be unprecedented when the building
opens, it is preferred not to loan the money to
ontside persons.
During the last six months fifteen houses
erected IN the northeastern part of the city with the
series of took running. and has 500 shares in
operation. Since the association started, year
and half ago, loans to the amount of $50 900 have
been made.
The South Side is the only association in the city
that has two pay nights week The membership is
very large and the receipts being correspondinglv
heavy it deemed best to aside two pay nights.
The association is nearly five years DID, and recently
found it necessary to make loan in order to
modate borrowers It will expire in ten months more
Several associations preparing to issue
series of stock on about the beginning of the new
year The Franklin will issue tenth series to begin
running Jan. 3. The Illinois and Seventh street
has issued its sixth series of stock and pay
ment of dues will begin z. The Hoosier assoca-
tion will issue a seventh series, which the payment
of dues will begin Jan. =.
The new plan on which the Knights of Labor asso-
citation organized is not proving entirely salts.
factory. The shares in the association are $500
plan association will expire four years On
of the short time it the directors have
generally conceded that the old serial plan of conduct
ing association is best.
The Social Turner's has completed its fourth year.
The annual report of Nh. Stempfel the secretary,
makes excellent showing. The total receipts dur
ing the year were So: 764.6 5; disbursements ST.
004.3S; balance in the treasury 81 200. IS. The
society assisted the Social Turnveren in the erection
of its new hail. and took first mortgage the build
ing The erection of directors for the ensuing year
resulted follows: Louis Seilken, George Vonpegut.
George Niebergal, Mike Robinus, Charles Wocher.
John Ulrich, Theo Sternpfel, Christ. Scbetter and
Alex. Schimat.
Building Association Register: The Star continues
to spin along nicely the high road of prosperity.
The tenth series of stock issued short time ago,
and the shares only quickly disposed of, but
1.-THE people are crying for more, as Mr.. Kercheva
the pleasant secretary of the society him
self. The Star IS still receiving very large premium
for the of its money loans having recently been
average
share 1t is big premium, indeed, considering the
fact that the weekly dues only rs cents snare
borrowers paving it chserfUly. and appear
be well satisfied Most of them said Mr.. kerch-
eval have been paying rent before they became
houseowners, with the aid of the society, than their
Dues premium and interest amount to now" The
Star now has nearly 500 members and there not
many building associations in the land which
show similar record. Nearly 5000 shares are in
operation and paying dues. Loans to the amount of
SO 900 have been made within the past two months,
the demand for money being continually in of
the supply.